PG&E Corp. [NYSCE:PCG] filed a reorganization plan in U.S. Bankruptcy Court that includes $16.9 billion to pay for wildfire claims.

PG&E Corp. said it was postponing a controversial effort to secure up to $20 billion in bonds from the state to pay for wildfires sparked by its equipment.

The judge overseeing PG&E's bankruptcy relinquished a major part of the case to another federal judge while a third part is heading to state court.

PG&E is hoping the California legislature will approve a bill providing up to $20 billion in bonds to help the company pay its debts to wildfire victims.

The judge overseeing PG&E’s bankruptcy ruled against bondholders and insurers that wanted to offer their own reorganization plans for the embattled utility.

Lawyers representing PG&E and California wildfire victims argued over how to estimate the potential liability of the bankrupt utility.

Judge Dennis Montali heard lengthy arguments from bondholders and insurance companies over why he should end PG&E’s exclusivity period.

The judge overseeing PG&E’s bankruptcy questioned the utility’s attorney over an executive compensation package that includes $11 million in bonuses.

The judge overseeing PG&E’s Chapter 11 bankruptcy granted a motion to hold off on deciding whether to terminate the utility’s exclusivity period.

Discussions at Infocast's California Energy Summit ran the gamut of energy issues, but mitigating and preventing wildfires in the state took center stage.